Reuters: Handelsvolumen zwischen der Türkei und Russland geht aufgrund der US-Sanktionsrhetorik zurück, Zahlungen werden unterbrochen
US sanctions and trade between Turkey and Russia
It has been claimed that the trade volume between Turkey and Russia declined, and some payments for both imported oil and Turkish export products were disrupted after the US imposed sanctions on companies conducting trade with Russia. According to Reuters news, the trade volume between Turkey and Russia decreased after the US specifically targeted countries with sanctions that engage in economic cooperation with Russia. On the other hand, some payments for both imported oil and Turkish export products were disrupted. Through the sanctions, the US aims to reduce Russia’s income and halt the flow of Russian oil without harming global markets. This is intended to prevent an increase in gasoline prices and the exhaustion of Russian forces in Ukraine.
Payment Issues
In an interview with Reuters, a Russian oil expert stated that Russian oil exporters have not received payments from Turkey for two to three weeks. A Turkish source claimed to have information about the payments, stating, „Some payments were disrupted.“ „There may also be issues with the cargo,“ he said. Industry and finance sector sources, speaking on the condition of anonymity due to not being authorized to discuss the sensitive issue, mentioned that the payment delays began in December.
Trade Volume and Export Data between Turkey and Russia
According to the data, Turkey’s exports to Russia decreased by 39 percent year-on-year in January to $631 million. Based on the 2023 annual data, it increased by 16.9 percent to $10.9 billion.
